Mark Zuckerberg overtakes Bezos to rank as the second richest person in the world.
Mark Zuckerberg overtakes Bezos to rank as the second richest person in the world.
The author is Deborah Dan-Awoh. 34 moments prior
With an astounding $206.2 billion in net worth, Mark Zuckerberg has surpassed Amazon founder Jeff Bezos to become the second richest person in the world.
This accomplishment follows a $78 billion surge in 2024, sparked by a 70% gain in Meta Platforms Inc.'s stock price.
According to the Bloomberg Billionaires Index, Zuckerberg's wealth is greater than both Bezos's $205.1 billion and Kuwait's approximate $160.4 billion GDP.
Mark Zuckerberg now has $200 billion in wealth.
Mark Zuckerberg now has $200 billion in wealth.
25 September 2024
He still behind Tesla CEO Elon Musk, though, by almost $50 billion.
Zuckerberg's wealth has increased significantly after a difficult time for the company, Meta, which saw large layoffs and reorganization in late 2022.
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21,000 workers were let off by the corporation as part of a drastic cost-cutting plan. Though first viewed with suspicion, these tough choices have turned out to be crucial in regaining investor trust and paving the way for Zuckerberg's ascent back up the wealth rankings.
The performance of Meta
The main driver of Zuckerberg's financial ascent was Meta's stellar stock performance in 2024. Shares of the corporation have increased significantly, demonstrating the resurgence of investor confidence in the company's strategic orientation. Meta's increased emphasis on artificial intelligence (AI), augmented reality (AR), and virtual reality (VR), which are starting to show promising outcomes, has played a major role in this reversal. Notably, the company's main business of digital advertising is still thriving and provides a solid financial base for the exploration of new technical frontiers.
Infrastructure spending has also been a major factor in Meta's revival. For the purpose of remaining competitive in the quickly changing field of artificial intelligence, the corporation has been growing its data centres and increasing its processing capacity. With the recent release of the Orion augmented reality glasses, Meta demonstrated its dedication to innovation and its goal of fusing digital and real-world experiences.
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